Gainesville, Fla. — JLL Capital Markets has arranged the sale of Gainesville Plaza, a 165,705-square-foot shopping center in Gainesville. Brad Peterson and Whitaker Leonhardt of JLL represented the sellers, Wicker Park Capital Management and Riverstone Capital Group, in the transaction. Cobalt Real Estate Solutions, an affiliate of Divaris Real Estate Inc, purchased the property for $19.1 million. Anchored by Burlington and Ross Dress for Less, Gainesville Plaza was 96.7 percent leased at the time of sale to tenants, including 2nd & Charles, Save-A-Lot, Five Below and Hibbett Sports. Built in 1971 and renovated in 2015, the property is currently expanding with the addition of a new two-tenant outparcel pad preleased to Firehouse Subs and Tropical Smoothie Café, along with a new adjacent Wendy’s location.
JLL Arranges $19.1 Million Sale of Shopping Center in Gainesville, Florida